The ABS released their latest data on the labour market today, and it was not quite what was expected by the markets. In fact the seasonally adjusted unemployment rate rose to 3.5 per cent in August 2022, according to the ABS.
The key reason for the rise in unemployment was the 0.2% lift in the labour force participation rate to 66.6%. The participation rate now sits just below the record high 66.8% recorded in June.
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